Standard Costing Variance Analysis - Study Notes, Question Answers, Problems Solutions

Material Variances - Study Notes

  1. Standard/actual/budgeted material input/output/quantity/price/cost
  2. Recalculating standard material quantity/cost for/of actual output
  3. Recalculating standard material quantity/cost/output for/of actual input
  4. Revising Material Standards
  5. Material Variances - Overview
  6. Material Cost Variance
  7. Material Price Variance
  8. Material Quantity/Usage Variance
  9. Material Mix Variance
  10. Material Yield/Sub-Usage Variance
  11. Material Yield/Sub-Usage Variance when there are losses
  12. Material Variances - Formulae Review & Illustration
  13. Material Variances - Opening/Closing stocks of Materials
  14. Calculating material variances - other methods
  15. Material Variances - Reconciliation Statements
  16. Material Variances - Cost Accounting treatment
  17. Material Variances - Accounting - Recording Journal Entries

Labour/Labor Variances - Study Notes

  1. Standard/actual/budgeted labour/labor input/output/time/rate/cost
  2. Recalculating standard Labour/Labor Input/Output/Time/Cost for Actual Output
  3. Recalculating standard Labour/Labor Input/Output/Time/Cost for actual Input
  4. Revising labour/labor standards
  5. Labour/Labor Variances - Overview
  6. Labour/Labor Cost Variance
  7. Labour/Labor Rate of Pay Variance
  8. Labour/Labor Usage/Gross-Efficiency Variance
  9. Labour/Labor Idle Time Variance
  10. Labour/Labor Efficiency Variance
  11. Labour/Labor Mix/Gang-Composition Variance
  12. Labour/Labor Yield/Sub-Efficiency Variance
  13. Labour/Labor Variances - Formulae Review and Illustration
  14. Calculating Labour/Labor Variances - other methods
  15. Labour/Labor Variances - Reconciliation Statements
  16. Labour/Labor Variances - Cost Accounting treatment
  17. Labour/Labor Variances - Accounting - Recording Journal Entries

Overhead Variances - Study Notes

  1. Overheads - Direct, Indirect Expenses
  2. Overhead Classification - Functional (Factory, Administration, Selling, Distribution) and Behavioural (Variable, Fixed, Semi-Variable)
  3. Overheads - Budgeted, Actual/Incurred, Budgeted Rates
  4. Standard Ouput/Input/Periods for Actual Output/Input/Periods
  5. Overhead Absorption - Pre Determined Rates of Absorption
  6. Overhead Variances - Overview
  7. Total Overhead Cost Variance
  8. Variable Overhead Cost Variance
  9. Variable Overhead Absorption Variance
  10. Variable Overhead Efficiency Variance
  11. Variable Overhead Expenditure Variance
  12. Fixed Overhead Cost Variance
  13. Fixed Overhead Expenditure Variance
  14. Fixed Overhead Volume Variance
  15. Fixed Overhead Absorption Variance
  16. Fixed Overhead Calendar Variance
  17. Fixed Overhead Capacity Variance
  18. Fixed Overhead Efficiency Variance
  19. Overhead Variances - Reconciliation Statement

Material Variances - Problems Solutions

  1. Single/One type of material
  2. Stocks (Opening, Closing), Losses - Single/One type of material
  3. Two or more types of materials
  4. Losses - Two or more types of materials
  5. Stocks - Opening and Closing - Two or more types of materials
  6. Revision of Standards - Two or more types of materials
  7. Finding missing figures - Two or more types of materials
  8. Advanced/Miscllaneous - Two or More types of materials
  9. Material and Labour/Labor Combined

Labour/Labor Variances - Problems Solutions

  1. Labour/Labor Variances » Single Type
  2. Labour/Labor Variances » Single Type - Abnormal Idle Time
  3. Labour/Labor Variances » Two or More Types
  4. Labour/Labor Variances » Two or More Types - Abnormal Idle Time
  5. Labour/Labor Variances » Two or More Types - Revision
  6. Labour/Labor Variances » Two or More Types - Miscllaneous/Advanced
  7. Labour/Labor :: Reconciliation of Standard and Actual Costs
  8. Material and Labour/Labor Combined Problems

Overhead Variances - Problems Solutions

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